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IMV Inc.

A Clear Path Ahead

IMV (TSX: IMV; OTCQX: IMMVD) has the potential to fundamentally
transform the way we use our immune system to address a broad range of
serious diseases. We continue to build value in our Company by
establishing collaborations with leading biotechnology and
pharmaceutical companies; advancing our programs; and seeking
additional opportunities to leverage DepoVax™ in underserved markets.

We have the platform, the pipeline, and the people and partners to
discover and develop novel solutions to some of healthcare’s most vexing
challenges. Through our internal development activities and external
collaborations, we are growing a pipeline of promising combination
immunotherapies and vaccines. Our experienced management team, Board of
Directors, and scientific advisors are well prepared and committed to
ensure that we deliver optimal value to patients and our shareholders,
across all facets of our organization.

IMV Inc. is a clinical-stage immuno-oncology company dedicated
to making immunotherapies more effective, more broadly applicable, and
more widely available to people facing cancer and other serious
diseases. IMV’s DepoVax™ platform provides a patented delivery
formulation that enables controlled and prolonged exposure of antigens
to the immune system. Lead product candidate DPX-Survivac is currently
being evaluated in several clinical trials in advanced ovarian cancer in
combination with other innovative immunotherapy agents.

DepoVax™, Our Delivery Platform that Gets the Message Through

Our DepoVax technology provides the foundation of our Company and
underscores the novel benefits of our product candidates across multiple
therapeutic markets. Our human immune system is bombarded with
countless messages and directives at any given moment. The key, we
believe, is making sure that the right directives get through, safely
and efficiently, to help our body do what it is already designed to do:
fight serious diseases.

The technology behind our unique DepoVax-based delivery agents can
help to get the messages across, by promoting the active uptake and
extending the exposure time of specific antigens to the immune system.
DepoVax formulations provide a simple but elegant solution to delivering
the right messages, and helping to make sure they are received and
acted upon, by our immune system.

Through partnerships with pharmaceutical and biotech leaders, we are
leveraging the unique capabilities of DepoVax to develop innovate
therapies with potential to mobilize the power of the immune system in a
more rapid, robust and sustained fashion. We work with a sense of
purpose, using the best science and drug development practices to
address urgent unmet medical needs in cancer and other diseases.

With three candidates already in clinical trials and several more at
the precipice, we are committed to building a company that can deliver
value for our shareholders, patients and communities.

Using our robust and scalable DepoVax delivery platform, we develop
immunotherapeutic agents that activate and direct T cells against
cancer, and complement the activity of other immuno-modulating agents.
Our lead candidate, DPX-Survivac, targets the protein survivin, which is
present in more than 15 types of solid tumor and hematologic cancers.
In addition to being a widely recognized tumor associated antigen (TAA),
survivin also plays an important role in the dysregulated cell
apoptosis and metastasis that are the hallmarks of cancer. Therefore,
the value of manipulating this target is twofold: it is both a cell
surface marker widely expressed in, but specific to, tumor cells, as
well as a cancer driving mechanism that is implicated in the
proliferation of the tumor itself.

DPX-Survivac is currently being evaluated in multiple clinical trials
in combination with other advanced immunotherapy agents, including
checkpoint inhibitors, in collaboration with our partners Incyte
Corporation and Merck. These include two triple combination trials in
advanced ovarian cancer, one of our main areas of therapeutic focus. We
believe that DPX-Survivac’s unique, T cell-focused mechanism of action
and established clinical immunogenic track record position it as an
optimal choice for expanding the utility and patient response rates to
today’s most groundbreaking immunotherapies.

Broad Market Potential for DepoVax-Formulated Therapies

While our internal clinical program is focused on advancing
applications of DPX-Survivac in hard-to-treat cancers, we also recognize
that DepoVax has a broad range of applications across multiple
therapeutic areas and potential products. We are working with partners
including Dana-Farber Cancer Institute and UConn Health to leverage
DepoVax in our DPX-E7 and DPX NEO programs.

Beyond the cancer market, we are focused on working with partners to
deploy DepoVax formulations in those areas where its novel MOA can
deliver the greatest value. We have several ongoing programs in
infectious diseases related to public health threats and indications
with limited if any treatment options, such as virulent malaria, the
Zika virus and respiratory syncytial virus (RSV).

RSV in particular is an indication that has plagued much of our
industry with its treatment complexities. Believing that a novel
delivery formulation can help address some of the pitfalls associated
with RSV clinical programs, we have developed our DPX-RSV candidate. In a
Phase 1 clinical trial, 100 percent of healthy older adult volunteers
who responded to vaccine achieved a sustained antigen-specific immune
response that remained at peak one year post-vaccination with DPX-RSV;
we believe that this level of response with a low-dose volume of a small
peptide vaccine is groundbreaking and highlights potential of DepoVax
platform.

DepoVax formulations provide a number of specific advantages over other delivery systems:

DepoVax can be used to safely extend exposure of the immune system to practically any antigen and adjuvant combination.

The safety profile and sustained immunological activity of DepoVax
have been demonstrated in both preclinical studies and human clinical
trials in multiple cancer and infectious disease indications.

DepoVax vaccines can be combined readily with other
immunotherapeutic approaches, including immune modulators and checkpoint
inhibitors.

DepoVax may require fewer administrations than currently available
immunotherapies, with the potential for single-dose effectiveness in
certain indications.

DepoVax therapies are fully synthetic and relatively easy to
manufacture; each vaccine is stored in dry form and reconstituted in oil
for injection, providing an extended shelf life and simple handling and
administration in the clinic.

Leadership

Frederic “Fred” OrsChief Executive Officer

Fred has served as our Chief
Executive Officer since April 2016. As CEO, he has led the
transformation of IMV into a leading clinical-stage immune
oncology company with world-class collaborators and a strong scientific
foundation.

He has more than 20 years of experience in the biopharmaceutical
industry, having served in a number of management roles encompassing
business development, intellectual property, strategic planning,
pre-marketing and communication. Before joining IMV, Fred
spent 14 years at Medicago serving in many roles of increasing
responsibility, most recently as Vice President of Business Development
and Strategic Planning. He had been an integral part of Medicago’s
success, including securing more than $300M CAN in non-dilutive funding
in revenues and future milestones from licensing agreements and
government contracts, and the $357M CAN deal acquisition by Mitsubishi
Pharma in 2013.

Fred served as second Vice-Chair of the Vaccine Industry Committee of
Biotech Canada between 2012 and 2016. Prior to Medicago, he was
licensing manager at the University Paris VII-Denis Diderot, one of the
largest science and medical University in France. He has a BSc degree in
Biology and a Master degree in Management from the University of Angers
(France).

Pierre LabbéChief Financial Officer

Pierre has more than 25 years
of progressive financial leadership roles in various industries. Prior
to joining IMV, he was Vice President and Chief Financial
Officer of Leddartech Inc. His experience in the life sciences sector
includes serving as Chief Financial Officer and secretary of Medicago
Inc. until the completion of the privatization of Medicago Inc.,
following the acquisition by Mitsubushi Pharma for an enterprise value
of $357M CAN in 2013. In his career as senior financial officer, he has
participated in the development of strategic plans, financing and in
mergers and acquisitions (over $1 billion CAN in transactions).
Pierre is also a Director of Osisko Gold Royalties Ltd and Agility
Health Inc. He holds a Bachelor’s Degree in Business Administration and a
license in accounting from Université Laval, Québec City. Pierre is a
member of Ordre des comptables professionnels agréés du Québec, the
Chartered Professional Accountants of Canada and the Institute of
Corporate Directors.

Gabriela Nicola Rosu, MDChief Medical Officer

Gabriela brings more than 20
years of medical and pharmaceutical experience to her tenure at
IMV. Prior to joining the Company, she was most recently a
Medical Science Liaison for Janssen Inc., responsible for implementing
the medical strategy at the regional level. Previously, she served as a
Global Medical Advisor in hematology for Novo Nordisk, where she
actively participated in developing the global medical strategy and
clinical development plans for multiple compounds. Her duties also
encompassed overseeing clinical trials’ planning and publications for
early development-phase compounds, as well as regulatory filing support
and post-approval commitments for late-stage candidates and marketed
products.
She started her career in the pharmaceutical industry when she
immigrated to Canada with her family, and has risen in ranks at
companies including Berlex, Celgene, Novo Nordisk, Lundbeck, gathering
extensive experience in several therapeutic areas, including hematology
and oncology. Gabriela graduated from the University of Medicine an
Pharmacy Gr.T. Popa in her native country, Romania. Following graduation
and internship, she practiced as a family and emergency physician in
Iasi, Romania, for five years.

Stephan FisetVice President, Clinical Research

Stephan manages the
implementation and progress of IMV’s clinical programs. Prior
to joining the company, he worked for more than 15 years in clinical
research with Medicago, GlaxoSmithKline and the Infectious Disease
Research Center of the CHUL, where he led multifunctional teams in
several therapeutic areas, including Oncology, HIV, Vaccines, Sepsis,
Hematology, and Neurology. Throughout his career, he was involved in
scientific and operational activities of several Phase I to Phase III
trials. He has also led several process improvement teams to ensure
timely and cost-effective delivery of clinical trials. Stephan received
an MBA with honor from Université Laval and a Master degree in
Microbiology from the University of Sherbrooke.

Leeladhar SammaturVice President, Product Development & Manufacturing

Leeladhar is responsible for
the chemistry, manufacturing and control operations of IMV’s
DepoVax™ based vaccine candidates. He has more than 20 years of
experience in vaccine product development, from conceptualization to
commercialization. He joined IMV in 2007 as Head Scientist,
Analytical Development and was promoted to the role of Director, Product
Development in 2010. He became Vice President, Product Development
& Manufacture in 2016. His work encompasses formulation and process
development, production at contract sites, supply chain management and
analytical development operations for the Company’s DepoVax- based
investigational products. Prior to joining IMV, Leeladhar
worked at GSK, Novartis, Bharat Biotech and Uni-Sankyo in various
capacities.

Leeladhar is a member of the American Association of Pharmaceutical
Scientists, the American Chemical Society and the Drug Information
Association. He received his Master’s degree in Biochemistry from Sri
Krishna Deveraya University.

Marianne Stanford, PhDVice President, Research

Marianne oversees all
preclinical research activities and clinical immunology assessment of
cancer immunotherapies and infectious disease vaccines. She also serves
as adjunct professor in Microbiology and Immunology at Dalhousie
University, as a member of the Vaccine Discovery group of the Canadian
Centre for Vaccinology, and as an Associate Member of the Beatrice
Hunter Cancer Research Institute. Before joining the Company in 2010,
Marianne conducted her postdoctoral training at the Robarts Research
Institute and at the Ottawa Hospital Research Institute (OHRI), focusing
her research on the use of viruses in the development of novel cancer
treatments. While at the OHRI, she worked with Jennerex Biotherapeutics
(now SillaJen) in the development of Pexa-Vec for human clinical trials.
She received her BSc and MSc from Memorial University of Newfoundland
and her PhD from Dalhousie University. In her spare time, Marianne is
involved in science outreach and policy and is the former Chair of the
Canadian Association of Postdoctoral Scholars.

Annie TanguaySenior Director, Quality

Annie is responsible for
development, implementation and maintenance of IMV’s Quality
systems, programs and processes to ensure GXPs compliance. She brings
more than 27 years of experience in pharmaceuticals and
biopharmaceuticals industries to IMV, serving over half of
these years in multinational pharmaceutical companies involved in
Sterile Products manufacturing. During a 10-year career at Abbott
Laboratories, she served in many Quality roles with increasing
responsibilities, from Quality Control (QC) laboratory supervisor to
Plant Compliance Manager.

Prior to joining IMV, she spent almost 15 years at Telesta
Therapeutics (formerly known as Bioniche Life Sciences), where she held
the position of Quality Director at the Montreal manufacturing facility,
which specialized in Sterile Biologic Manufacturing. She was
responsible for development and implementation of the Quality
Manufacturing Systems (QMS) at the facility, set-up of QC laboratories
and overall GMP site compliance. She has actively participated in
meetings with regulatory agencies (FDA and Health Canada BGTD) and has
hosted several GMP inspections. She holds a BSc in Microbiology from
Laval University in Quebec.